POS HARDWARE

BentoBox Launches BentoBox Payments - an End-to-end Solution for Diner Engagement

BentoBox | June 09, 2022

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BentoBox announced the launch of BentoBox Payments. With the addition of Payments to the BentoBox platform, restaurants have access to an end-to-end solution to take orders, process payments, and manage them all within the same platform, addressing restaurant operators' need for simple-to-use technological solutions to run their businesses.

Clover® powers BentoBox Payments by Fiserv, a worldwide leader in payments and financial services technology that bought BentoBox in November 2021. All BentoBox customers will have access to BentoBox Payments. Those who use the Clover point-of-sale and business management system can further streamline processes by consolidating on-premise and online ordering payment processing onto a single platform, thereby improving operational efficiencies and communication between the front and back of the house. With this integration to Clover, the BentoBox Marketing and Commerce platform now integrates websites, omnichannel ordering, and unified diner data, allowing restaurants to provide their customers with the level of hospitality they deserve, from initial contact through order fulfillment and follow-up.

With BentoBox and Clover, Fiserv enables approximately 200,000 eateries to provide guests with unique and distinct experiences. Combining customer-engaging omnichannel commerce capabilities with the revenue-driving role of digital storefronts, Fiserv assists restaurants at every stage of their journey, from establishing an online presence to engaging with their diners, generating multiple revenue streams, and operating an efficient front- and back-of-house.

Spotlight

Changes in the retail landscape are resulting in unexpected issues for customers. Generally, a store can set up any return policy it wants, whether it is "all sales final", "merchandise credit only", or "all returns in 30 days."It is not unreasonable, however, to require customers to provide a sales slip or gift receipt to establish where and when the item was purchased, and at what price.


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POS HARDWARE

TransAct Secures BOHA!® Solutions Order from National Travel Stop Chain

TransAct® Technologies Incorporated | June 03, 2022

TransAct® Technologies Incorporated (Nasdaq: TACT) (“TransAct” or “the Company”), a global leader in software-driven technology and printing solutions for high-growth markets, today announced that it has secured a BOHA! Terminal order, representing 305 units, from a national travel stop chain. The customer is in the midst of a transformation plan which includes site upgrades and an all-new fast casual dining experience. The company expects to deploy approximately 305 Terminals in 194 locations, with one or more BOHA! Terminal devices per location. “As the food service management companies look to grow their fresh food initiatives, our industry leading BOHA! Labeling solution has become the industry standard with all its capabilities. We are thrilled to announce this deal as we continue to execute on new business opportunities in this market, and look forward to working with this new customer,” - Bart C. Shuldman, CEO of TransAct Technologies. The complete system deployment will initially include the BOHA! Terminal, BOHA! Labeling software and proprietary BOHA! labels. TransAct estimates total annual recurring revenue per unit installed (“ARPU”) will be approximately $1,100 per year. BOHA! is the first single-vendor cloud-based enterprise system to combine applications for Food Safety, Date Code and Grab n’ Go Labeling, Temperature Monitoring of Food and Equipment, pH measurement, Checklists & Task Management, Inventory Management, Timers, and Food Recall, in one integrated platform. Each BOHA! solution combines cloud-based SaaS applications with hardware and accessories to deliver superior results for critical back-of-house operations. BOHA! offers a one-stop solution for restaurants and food service companies to address their current back-of-house operating requirements while providing a future-ready platform capable of addressing back-of-house operations. About TransAct Technologies Incorporated TransAct Technologies Incorporated is a global leader in developing software-driven technology and printing solutions for high-growth markets including food service, casino and gaming and POS automation. The Company’s solutions are designed from the ground up based on customer requirements and are sold under the BOHA!®, AccuDate™, EPICENTRAL®, Epic®, and Ithaca® brands. TransAct has sold over 3.6 million printers and terminals around the world and is committed to providing world-class service, spare parts, and accessories to support its installed product base. Through the TransAct Services Group, the Company also provides customers with a complete range of supplies and consumable items both online at http://www.transactsupplies.com and through its direct sales team. TransAct is headquartered in Hamden, CT.

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POS HARDWARE

Square Unveils Suite of New Integrated Restaurant Solutions to Help Increase Profitability and Improve Server and Customer Experience

Square | May 20, 2022

Square announced a suite of new software and hardware restaurant solutions. Built on the company’s experience in serving hundreds of thousands of restaurants over more than a decade, these new solutions help restaurants of all types and sizes, particularly full-service restaurants (FSRs), improve their bottom line and increase the efficiency of their operations. Square launched Square for Restaurants mobile POS, which gives servers the power of Square for Restaurants, an all-in-one restaurant POS, in their apron pocket - enabling them to quickly and seamlessly take orders and payments tableside or in line. Restaurants using the Square for Restaurants mobile POS beta program have been able to turn more tables and grow their sales even when they were short on staff. Square for Restaurants mobile POS runs on two handheld devices: Square Terminal and the forthcoming Restaurant Mobile POS kit, and as a launch promotion, restaurants will be able to use the software for $0 per location until early next year and just $50 after the promotional period ends. “We're seeing a lot of additional efficiency in our operations with Square for Restaurants mobile POS because our staff are spending more time on the floor rather than out of reach putting in orders, With the layout of our restaurant, Square for Restaurants mobile POS is saving a lot of physical steps, which has increased staff satisfaction and alleviated some of the stress on their positions. Alcohol sales also rose by 22% and we have seen voids due to out of stock items decline by 57%.” -Frankie DiCarlantonio, owner Scaffidi Restaurant Group. Square also announced Square Stand Mount, a versatile iPad point-of-sale that can be easily affixed to any wall or countertop right out of the box, or used as a kiosk. Coming soon, Square Stand Mount will allow restaurants to optimize space by mounting their POS to their ideal surface and helps waitstaff make checkout more efficient with integrated payments built in. Further, the company announced updates to the broader Square for Restaurants POS system, including: Coursing, a feature that helps restaurants manage the flow of orders to and from the kitchen, is now available on Square Register, Square for Restaurants mobile POS, and Square KDS. Now significantly more powerful, Coursing enables servers to send items as additions to courses already sent to the kitchen. At the same time, prep stations and expeditors will soon be able to flip between viewing everything fired, held, or completed, improving ticket readability, reducing errors, and providing diners an exceptional hospitality experience. Square KDS will soon enable restaurants to route tickets from a specific POS to a specific KDS, giving restaurants more flexibility in how they organize their kitchens to better support growing delivery and pickup orders. Along with other recent KDS feature launches such as seating and kitchen-facing names, restaurants can now use KDS as a full digital replacement for messy and expensive kitchen printers. Square’s powerful ecosystem offers first- and third-party integrations to seamlessly and efficiently power every element of a restaurant’s business operations, from delivery orders to team management. With Square Loyalty, sellers can schedule one-off or recurring promotions to drive more business on slower days. Square Payroll can help restaurants attract and retain staff in a challenging hiring market, with popular employee features such as On-Demand Pay, which enables W-2 employees to access up to 50% of their earned income before the pay period ends. Square will soon be introducing its first reservation & table management system integration with OpenTable, which will allow restaurants the ability to connect the data from their POS with the data from their OpenTable reservations system, unlocking better, more personalized customer experiences. Restaurants can now use SoundHound to take voice orders automatically without having to dedicate their limited staff to answering the phone, and this summer will be able to power their own delivery services (and maintain higher margins) via new integrations with Cartwheel and Vromo. “Square is dedicated to building the most robust ecosystem of products and services for restaurants of all types and sizes - from multi-location FSRs to QSRs, bars, breweries, and everywhere in between, No two restaurants are exactly alike and one solution doesn’t always fit all. That’s why we’re constantly working to grow and improve our suite of first-party products and partner integrations to enable restaurants around the globe to thrive in 2022 and beyond.” -Bryan Solar, Head of Restaurants at Square. Restaurant operators attending the National Restaurant Association Show from May 21-24 can visit Square’s booth #6057 for a preview of Square’s new and existing restaurants product suite. Attendees who meet with our Sales team and sign up with Square at the NRA Show will receive 3 months of Square SaaS software and may qualify for additional discounts on hardware and from Square partners. Square is also launching a new referral program available for a limited amount of time - offering exclusive perks to both the referrer and the referred as well as custom promotions for the Illinois Restaurant Association members - our latest partner.

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POS SOLUTIONS

MarginEdge and 7shifts Announce Seamless Platform Integration for Restaurants

MarginEdge | May 18, 2022

Leading restaurant management platform, MarginEdge is pleased to announce a new integration with restaurant team management platform, 7shifts. This integration enables 7shifts clients to seamlessly and autonomously share their labor data with the MarginEdge platform, empowering them with a full view of their entire controllable costs. "We're thrilled to be partnering with 7shifts for this integration benefitting our mutual clients," said MarginEdge CEO Bo Davis. "Labor data is key to understanding variable costs and with the seamless data pull between our platforms, our clients can now see everything in one place enabling them to stay on top of the rapid changes our industry has been experiencing," he added. With the right tools, labor can be one of the most controllable costs in running a restaurant. This integration autonomously pulls data from 7shifts so that restaurants can: See all controllable costs and revenue in one place Track actual labor costs against budgeted labor costs in real time. View a declining labor budget throughout the period, updated daily, by comparing labor spending to a fixed dollar amount or to a percentage of sales. View detailed labor summaries broken down by category, employee, or job title throughout a weekly or daily period. Keep labor in one centralized location alongside other costs and your revenue, including any labor data recorded by a POS. "We're constantly working to deliver value for our customers, Being able to partner with MarginEdge as their first labor integration partner is exciting. This is a game-changer for our mutual restaurant partners - we've seen first-hand the impact it can have when it comes to hitting labor targets." -Jordan Boesch, Founder, and CEO of 7shifts, The ongoing labor shortages have made it more important than ever to be able to accurately staff restaurants, which can help prevent burnout and turnover ensuring better guest experiences and increased profits. By integrating both platforms, operators are supported by providing them the ability to make real-time decisions using robust analytics and insights, and all in one place. About MarginEdge MarginEdge's mission is to create a world where restaurant operators can focus on the business they love. By using best-in-class technology to eliminate unproductive paperwork and streamline the flow of operational data, MarginEdge is reimagining the back office and freeing restaurants to spend more time on their culinary offerings and guest experiences. Based in Arlington, VA and founded by industry veterans, MarginEdge serves a diverse group of operators from single units and small chains to large franchise and hospitality groups, providing a high impact product that resonates across the hospitality industry. About 7shifts Founded in Saskatoon, Canada, in 2014, with offices in Toronto and New Jersey, 7shifts is simplifying team management, one shift at a time. The restaurant employee team management solution is used by over 700,000 restaurant pros across North America, Europe, the Middle East, and Australia, including multi-unit restaurant groups like Bareburger, Smoke's Poutinerie, YogurtLand, Juice It Up!, and many others. More than a scheduling platform, 7shifts empowers restaurant managers to optimize their workforce to better manage employees, resulting in reduced labor costs.

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POS SOLUTIONS

Biometric Technologies to Enhance Mobile Payments Security

GlobalData | June 23, 2022

The mobile payments market is expected to grow at a CAGR of more than 21% during the forecast period. Mobile payments encompass several types of payments, including mobile proximity payment, m-commerce, mobile P2P, and mobile POS. The most successful mobile payment systems in the future will be those that utilize the versatility of a mobile P2P or m-commerce system to achieve omnichannel reach, as services in Asia have already done such as the Indian services Paytm and PhonePe that utilize the national real-time payment system, as well as WeChat Pay and Alipay in China. The Mobile Payments – Thematic Research report offered by GlobalData Plc helps us understand the impact of mobile payments on the broader payments sector and gain insight into coming regulatory changes that will affect mobile payments. It also sheds light on what the leaders and disruptors in the mobile payments segment are doing in their areas of expertise. Biometric technologies represent a set of solutions that can help improve mobile payment security while reducing friction layers during the payment process. Biometric identifiers such as fingerprints, facial recognition, and voice recognition are difficult to replicate by criminals, which should help reduce the amount of fraud in the case of device theft compared with password-based security. The current landscape of online cross-border payments is still dominated by MoneyGram and Western Union. But new challengers such as WorldRemit and Wise are challenging the long-established players. Both Wise and WorldRemit can offer international cross-border transactions at a lower rate than MoneyGram and Western Union. And to increase their customer reach, both of these challengers are establishing regional partnerships. The payments industry in general has historically pushed for cashless societies in the interest of maximizing the proportion of transactions that generate revenue. Regulatory efforts to reduce cash use, such as those seen in Italy and India (usually with the aims of reducing the size of the black economy and bolstering tax revenues from easily tracked electronic payments), tend to have the full support of the payments industry. COVID-19 has accelerated this push, with mobile payment services launching. Due to the proliferation of mobile devices, such as smartphones and wearables, consumers have become accustomed to doing almost everything on these devices, whether it is connecting with people, looking for restaurants or shops, checking subway and bus timetables, or listening to music and taking photos.

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Spotlight

Changes in the retail landscape are resulting in unexpected issues for customers. Generally, a store can set up any return policy it wants, whether it is "all sales final", "merchandise credit only", or "all returns in 30 days."It is not unreasonable, however, to require customers to provide a sales slip or gift receipt to establish where and when the item was purchased, and at what price.

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